Govt looking for strategic investor

The government is looking at strategic investors to offer management control of the tainted Satyam Computers. It has already received several offers from various bidders.

businessUpdated: Feb 12, 2009 21:11 IST

HT Correspondent Hindustan Times

The government is looking at strategic investors to offer management control of the tainted Satyam Computers. It has already received several offers from various bidders.

Addressing an Assocham function, PC Gupta, corporate affairs minister said, “The next step of the government is to find out some suitable strategic investor who can take care, takeover the company. Gupta pointed out that all options are being considered and the process would be carried out transparently. The minister added the crisis situation at the company is over.

Gupta also said that the new company bill aims at making independent directors responsible in proportion to roles assigned to them.